Verified
Don't have to worry anymore
Been investing with them since 2018. The Growth fund has done well for me. I don't have to worry about whether my money is in something haram and the returns have been solid.
Naeem W.WA
23 found helpful
Amana Funds Amana Developing World ETF
Halal Investing in Nova Scotia
The Amana Developing World ETF (AMEM) is Saturna Capital's actively managed, Nasdaq-listed emerging-markets halal ETF, the counterpart to the Amana Developing World Fund. Launched June 24, 2026, it invests at least 80% of assets in companies with significant exposure (50% or more of production assets or revenues) to developing economies across Saturna's list of 34 countries, screened to Islamic principles. Expense ratio 0.91%; net assets $6.09M and 31 holdings at the 2026-10-19 fund page check.
Pros
- The only US-listed halal ETF dedicated to emerging markets
- Cheaper than the Amana Developing World Fund's 1.20% Investor class
- Active country and company selection by Saturna rather than a cap-weighted index
- Can hold developed-market companies whose revenues come mostly from developing economies
Cons
- Highest fee of any US halal ETF at 0.91%
- Concentrated: 31 holdings
- Tiny and new: $6.09M in net assets and no track record before June 2026
- Emerging-market currency, political and liquidity risk on top of equity risk
Actively managedNationwide
Updated October 2026
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Product Details
Type
ETF
Expense Ratio
0.91%
Min Investment
1 share on Nasdaq (fractional at supporting brokers)
Account Types
Individual, IRA, Roth IRA
Screening Method
Saturna Capital Islamic screens, reviewed by Amanie Advisors
Holdings
31
Amana Funds in Nova Scotia
Amana Funds's Amana Developing World ETF is available to investors in Nova Scotia, structured as a Actively managed. The fund carries an expense ratio of 0.91%. Amana Funds operates nationwide, so Nova Scotia residents have full access to this product.
Shariah Compliance & Oversight
Shariah Board
Saturna Capital selects holdings under its own Islamic compliance policies, which are reviewed by Amanie Advisors Sdn Bhd (Amana ETFs prospectus).
Details
Reviewed by Amanie Advisors (independent Islamic finance consultant). Saturna screens: no interest-paying investments; excludes alcohol, pornography, insurance, gambling, pork processing and interest-based finance.
Last Verified
2026-10-19
Province Availability
Amana Funds serves every province
✓ Available nationwide including Nova Scotia
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Visit Amana Funds's website to get current terms, check eligibility for Nova Scotia, and get started today.
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User Reviews for Amana Funds
7 verified reviews
4.77 reviews
5★
5
4★
2
3★
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2★
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1★
0
Verified
Even my non-Muslim advisor knows them
My financial advisor actually recommended Amana for the halal portion of my portfolio. The fact that even non-Muslim advisors know about them says a lot about their reputation.
Khadija M.NY
17 found helpfulBoring and effective
Simple review: I put money in, it grows, and I know it's halal. That's all I need. Been doing this for years with no complaints.
Ali F.IL
12 found helpfulHalal Investment Growth Estimate
See how your halal investments could grow over time
$10,000
$500/mo
8% annual
Total Value
$343,778
Contributed
$130,000
Growth
$213,778
Hypothetical projection. Past performance does not guarantee future results.
Compare FundsFrequently Asked Questions
What is Amana Funds Amana Developing World ETF?
The Amana Developing World ETF (AMEM) is Saturna Capital's actively managed, Nasdaq-listed emerging-markets halal ETF, the counterpart to the Amana Developing World Fund. Launched June 24, 2026, it invests at least 80% of assets in companies with significant exposure (50% or more of production assets or revenues) to developing economies across Saturna's list of 34 countries, screened to Islamic principles. Expense ratio 0.91%; net assets $6.09M and 31 holdings at the 2026-10-19 fund page check.
What Shariah oversight does Amana Funds Amana Developing World ETF have?
Reviewed by Amanie Advisors (independent Islamic finance consultant).
Saturna screens: no interest-paying investments; excludes alcohol, pornography, insurance, gambling, pork processing and interest-based finance.
Is Amana Funds Amana Developing World ETF available in Nova Scotia?
Yes. Amana Funds Amana Developing World ETF is available nationwide, including Nova Scotia. You can apply directly through the provider's website.
What Shariah oversight does Amana Funds have?
Amana Funds's Shariah compliance is overseen by: Saturna Capital selects holdings under its own Islamic compliance policies, which are reviewed by Amanie Advisors Sdn Bhd (Amana ETFs prospectus).. Reviewed by Amanie Advisors (independent Islamic finance consultant).
Saturna screens: no interest-paying investments; excludes alcohol, pornography, insurance, gambling, pork processing and interest-based finance..
What financing structure does Amana Funds Amana Developing World ETF use?
Amana Funds Amana Developing World ETF uses a Actively managed structure. This is a Shariah-compliant financing arrangement that avoids interest (riba).
How do I apply for Amana Funds Amana Developing World ETF in Nova Scotia?
You can apply for Amana Funds Amana Developing World ETF directly through the provider's website. Visit their official site to start your application, check current requirements, and get personalized information for Nova Scotia residents.
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Reviewed by: HalalWallet Editorial Team•Last reviewed: 2026-10-08•Disclosure: Featured partners may compensate HalalWallet for clicks. Editorial policy and full disclosures.
Reviewed monthly and updated when product availability or terms change.
RM
Robert Mallon
Co-Founder, HalalWallet
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.